Nihon Kolmar acquires Tokiwa Cosmetics Group from Carlyle

Nihon Kolmar, Japan’s largest cosmetics ODM/OEM manufacturer, has acquired 100% of Tokiwa Cosmetics Group from global investment firm Carlyle.

Nihon Kolmar acquired the shares together with its wholly owned subsidiary TOA Corporation. Financial terms of the transaction were not disclosed.

Carlyle acquired Tokiwa in 2019 with the aim of building it into a leader in the cosmetics manufacturing industry. Founded in 1948 and headquartered in Nakatsugawa, Gifu Prefecture, the company is engaged in the research and development and manufacturing of cosmetics and is a major supplier to the global cosmetics industry, mainly color cosmetics. The company has approximately 400 patented technologies worldwide and supplies leading beauty brands through factories in Japan, the United States and China.

Nihon Kolmar said the acquisition will combine two “highly complementary” businesses and help establish a “production system that is competitive not only in Japan but also in the global market.”

"Our group is Japan's largest cosmetics contract manufacturer and has been in the cosmetics business for over a century since its founding in 1912, with the support of numerous business partners," TOA President Yoshihide Kanzaki said in a statement. "We have now established systems capable of producing all types of cosmetics, including skincare, color makeup, and haircare products, and are able to meet the needs of a wide range of business partners. Going forward, we hope to work together with Tokiwa's employees and management to build a sustainable future as a globally oriented Japanese conglomerate."